Wednesday, August 5, 2009

Well, today was a LONG day. My Technical Analysis showed the Australian/US Dollar cross to be in a nicely shaped cycle and at 7:30 this morning, the cycle was approaching an ideal entry point. I got in and everything was maturing nicely when all of a sudden, the price dropped 50 pips and I found myself down $365.00. Confident in my analysis, I watched and waited for the down-spike to exhaust itself and then I re-entered with a buy order. Well, all day long, just as the market would correct for the spike, and I would approach getting even, another spike would hit. All day long I played this game until finally at 9:30PM, still 15 pips away from my targeted close price, someone flooded the market and the price rose 50 pips in 10 seconds, filling my target order, making me well over $700.00 to wipe out my earlier losses and still have enough left over to add a tidy $356.00 (+11.20%) profit for the day.

Week 2
Trading Day Mon, Aug 3, 09 Tue, Aug 4, 09 Wed, Aug 5, 09 Thu, Aug 6, 09 Fri, Aug 7, 09
Opening Balance $2,382.57 $2,737.50 $3,179.27 $3,535.27 $3,888.80
2% Risk $47.65 $54.75 $63.59 $70.71 $77.78
5% Increase $238.26 $273.75 $317.93 $353.53 $388.88
Actual increase $354.93 $441.77 $356.00 $0.00 $0.00
Closing Balance $2,737.50 $3,179.27 $3,535.27 $3,888.80 $4,277.68
Daily Increase 14.90% 16.14% 11.20% 0.00% 0.00%
Total Increase -45.14% -36.29% -29.15% -22.07% -14.27%

No comments:

Post a Comment